question archive W White's business has a rate of turnover of 7 times

W White's business has a rate of turnover of 7 times

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W White's business has a rate of turnover of 7 times. Average stock is 12600. Trade discount

(i.e.margin Allowed) is 33 1/4%off all selling price .Expenses are 66 3/4% of gross profit

Calculate

a)cost of goods sold

b) gross profit margin

c)Turnover

d)Total expenses

e)net profit

 

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